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Tag Archives: Clancy Martin
August 15, 2010
The very real value of branding As prices goes down, demand goes up. That’s the usual economic formula. We all want more for less, right? Buy one, get one free! But in the case of “Veblen goods” (named after economist Thorstein Veblen), demand goes up as prices increase. Why? A high-priced item is often a high-status item.